NNN REIT (NYSE:NNN) Releases FY 2024 Earnings Guidance

by · The Cerbat Gem

NNN REIT (NYSE:NNN – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 3.280-3.320 for the period, compared to the consensus earnings per share estimate of 3.330. The company issued revenue guidance of -. NNN REIT also updated its FY24 guidance to $3.31-3.35 EPS.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NNN shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 target price (up from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. StockNews.com lowered shares of NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Colliers Securities downgraded shares of NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday. Royal Bank of Canada cut their price objective on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday. Finally, Raymond James increased their target price on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.17.

Check Out Our Latest Stock Analysis on NNN REIT

NNN REIT Stock Down 0.1 %

NYSE NNN traded down $0.04 during mid-day trading on Friday, reaching $43.40. The stock had a trading volume of 1,533,581 shares, compared to its average volume of 988,229. The stock has a market cap of $7.97 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. NNN REIT has a 1 year low of $37.69 and a 1 year high of $49.57. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.72. The company has a fifty day moving average price of $47.71 and a 200 day moving average price of $44.75.

NNN REIT (NYSE:NNN – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). NNN REIT had a net margin of 45.63% and a return on equity of 9.47%. The business had revenue of $216.81 million for the quarter, compared to the consensus estimate of $212.30 million. During the same period in the previous year, the company earned $0.80 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts expect that NNN REIT will post 3.3 earnings per share for the current year.

NNN REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Thursday, October 31st. NNN REIT’s payout ratio is presently 107.41%.

Insider Activity

In other news, EVP Michelle Lynn Miller sold 4,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the transaction, the executive vice president now directly owns 69,756 shares of the company’s stock, valued at $3,270,161.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by corporate insiders.

About NNN REIT

(Get Free Report)

NNN REIT invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2023, the company owned 3,532 properties in 49 states with a gross leasable area of approximately 36.0 million square feet and a weighted average remaining lease term of 10.1 years.

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